The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1887-05-19
Dan Manning and Others
Conclude to go Into
Big Business.
They are t.oiug tO Corner all
silver from Bars To Dimes.
and List shares.
II will Rattle the Row In Lon.
don and Bear the Calcutta
Cotton Market.



NEW YORK, May lS.-The CONNER.
cial Advertiser says
Organization il being effected
among western capitalists in this city
TO rude in silver bullion Certificates
of coinaud common certificate will
bc dealt in. The headquarters of the
Organization will he tho New Western
Neuoupl Bank. in which cX. Secretary
OF the Treasury Manning and en-
Treasurer Jordan are founders.
Mfuuiue nnd his a. sociats intend to
make Now York the chief Of the -il-
yer bullion trade and thus transfer
the Continental silver market from
London to New York. Their plan Of
operations isto have silver bullion in
large quantities deposited III the
Western National Bank or elsewhere
and issue certificates against bullion
so deposited and those certificate,
will be traded in very much
,As GRAIN CERTIFICATES
are In Chicago or as stock certificates
are here. To accomplish that howcv.
or il viii be ncCes- ary to secure the
corporation OF the governors of the
stock exchange in orderto secure the
listing Of the proposed silver ceItiti-
cate Oh change. II that can be done
the plan viii be- carried out The
transactions in silver certificates will
then b come
as MARKED A FEATURE
in tho stock exchange business os was
trading in gold III the days of grocu-
back depreciation. Perhaps il may
even come to be that q silver room.
rs wos once gold room, will be spo-
ken OF aud in any case trading will
have to be controlled by Tho course
of the silver market precisely rs sales
in India by consol bids in London,
which are now the controlling force.
CONRAD y. JORDAN,
vice. president Of the bank, was asked
If such scheme is on foot AT first
Jordan seemed perfectly oblivious to
its existence; but the production OF
further facts convinced hm tnat he
did know something about 1t, Said
ne: "Such scheme is on foot, but
not with Us exclusively There are
HNtllDffH VI llltH Etllluk Nhlb lhth
into shape, but it will not be ready
to be made public for several weeks
yet. If anything is published about
il it will injuro he scheme very
much. The Western National bank
will not speculate In silver. II shall
never buy an ounce OF silver; if any
thing suggestive of
SPECULATIVE pI'RIOSE
on the phrt oftho,bauk is published it
shall publicly disavOW thew hole thing
We are willin@ and ready to issue
certificates for silver or rather to aci
as registers OF the organization, but
we hall not do anything if it j. for
,peculation. We propose to do only
q legitimate country business. Lon
don now controls the silver market
of the world II this scheme succeeds
Ms it surely will if bet lone that con.
trolling power will be in this city.
This YOU will readily observe viii be
agtcat for the 'nitcdStates. Instead Of
being dependent upon London for our
prices of liver, London will have
10 DEFEND UPON US"
Jordan said his friends undoubted-
ly proposed to speculate in silver but
the bank would not do so in any way
Jordan's scheme has 80 far progressed
that certificates are now being issued.
1t VIII be ready for the pubic IN
about two weeks. Mr.. Jordan con-
cluded by saying
"If be called an enemy Of silver am
not but am an enemy of the silver
dollar. Never "a dollar should be
coined. would hsvc no dollars in
silver. 1t Is not used enough. Every
silver dollar coined shows the disuse
of silver. / should only have halves.
quarters and ten cent pieces, each to
weigh in proportion TO the dollar. If
the government persists in its prescAt
ruinous policy there is no telling
where things will end. America is
the largest silver producing country.
It's our dea to get control OF our
own market ana that OF south
a merica."